Posting its results for the six months to June 30, mobile and social game developer Gaming Realms reported a year-on-year revenue increase of five per cent, to £15.7m, while losses (adjusted EBITDA) fell by 71 per cent.
The company attributes the like-for-like revenue growth of five per cent to the success of its proprietary mobile platform Grizzly and its range of Slingo games.
Losses were down from £3.1m in the first half of 2016 to £0.9m in the first six months of this year. Some of this was due to a reduction in staff numbers by 28, which will deliver annualised cost savings of around £2m.
Chief executive Patrick Southon said in a statement: “The group has made significant progress towards profitability in the first half of 2017, with H1 losses reduced, the board anticipates that the group will be EBITDA-positive for the year as a whole.
“Our strategy of focusing our resources and capital on real-money gaming, while continuing to deliver content to other operators, is driving revenue growth.
“Further progress is expected in the second half of 2017 across the business with the RGS partnerships with Resorts Digital Gaming and Rush Street Interactive becoming fully operational, the first European partnership with BetVictor recently launched and our game portfolio expanded.”